The Norwegian Ministry of Trade, Industry and Fisheries has outlined a series of subsidies to support struggling fishing industry sectors over the coming year.
The measures are designed to offset external factors, and subsidies administered by the Guarantee Fund for Fishermen include support for longline boats and the shrimp trawl sector.
‘Over the last five years, the cost of bait has almost doubled. To remedy the situation, a scheme with subsidies is to be established for 2025,’ said Minister of Fisheries and the Oceans Marianne Sivertsen Næss.
Operators in any part of Norway are free to apply. The subsidy scheme does not apply to conventional deep-sea fishing vessels. A cap has been set of NoK200,000 per vessel.
The authorities have also earmarked NoK23,190,000 to subsidise the coastal shrimp trawl fleet during 2025, with a NoK4 per litre subsidy rate from the beginning of 2025.
‘Compared to other sectors of the fishing fleet, the coastal shrimp fleet is still in a particularly demanding financial situation due to high costs in the industry, as well as decreasing shrimp quotas in the south. We are pleased to be able to continue to support the shrimp fleet in 2025,’ Marianne Sivertsen Næss said.
